This Week’s Market Buzz

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Published: Thursday, 23 October 2014 15:33

Hi-Crush Partners LP announced the appointment of Jeffery A. Johnson as director of environmental compliance, with the responsibility for maintaining and administering the regulatory compliance programs for all Hi-Crush facilities. Johnson brings more than 15 years of experience to the company, with the majority working within the environmental regulatory programs at the Wisconsin Department of Natural Resources. Johnson will have a senior leadership role in the continued development and implementation of Hi-Crush's environmental programs. “Hi-Crush continues to be fully committed to operating in an environmentally responsible manner and strives not only to meet, but to exceed, environmental regulatory requirements in the communities where we operate,” said Robert E. Rasmus, co-chief executive officer of Hi-Crush. “We are excited that Jeff has joined the Hi-Crush team and believe that Jeff's extensive experience and leadership in regulatory and environmental matters is a great fit for Hi-Crush as we continue to expand our operations.”

Canadian National Railway’s net income surged 21 percent to $853 million in the third quarter as revenues reached a record $3.12 billion. Revenues grew 16 percent from $2.7 billion as car loadings increased 11 percent to 1.47 million and revenue-ton miles were up 13 percent. “Clearly we are growing much faster than the economy, which is our game plan,” said CEO Claude Mongeau. The railway saw its volume reach a record high in the quarter on robust grain shipments and strong growth in energy markets. Analysts foresee strong growth prospects for CN in crude oil and frac sand, along with international intermodal from Prince Rupert, B.C. Shipments of frac sand are forecast to grow by 25 percent annually over the next several years.

U.S. Silica Holdings Inc. announced that it has been named to Forbes’ 36th annual list of America's Best Small Companies. U.S. Silica was ranked number one out of 100 companies with annual sales under $1 billion. The rankings are based on return on equity, sales growth and earnings growth over the past year, as well as the past five years. Forbes also factors in stock performance versus each company's peer group during the last 12 months. Bryan Shinn, president and chief executive officer of U.S. Silica, commented, “What a tremendous achievement to be named America's Best Small Company. We're very pleased to be acknowledged by an organization as prestigious as Forbes. I want to personally thank all of our key stakeholders and especially all of our employees for their hard work, dedication and many contributions to our current and future success. U.S. Silica has, without question, the very best team in the industry. It's the collective skills and experiences of our team that help drive our outstanding results.”